Present value is
A) the value of a future amount expressed in today's dollars.
B) the value of a dollar received a year from now, expressed in terms of its future value.
C) the inverse of the interest rate.
D) the nominal value instead of the real value of something.
Ans: A) the value of a future amount expressed in today's dollars.
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Recessions are largely the result of
A) high wages. B) the wishful thinking of zero economic growth advocates. C) widespread and systemic errors from manipulated market signals. D) none of the above.
The figure above shows a firm in a perfectly competitive market. The firm will shut down if price falls below
A) P1. B) P2. C) P3. D) P4.
The aggregate demand–aggregate supply model shows that closing an expansionary gap involves deflation and closing a recessionary gap involves inflation
a. True b. False Indicate whether the statement is true or false
A price ceiling keeps a price:
a. from rising above a certain level. b. from decreasing below a certain level. c. at a stabilized point. d. from increasing or decreasing.